Dlf: On shaky grounds... Short

DLF LTDNSE

Description

⋅ May 5, 2020 6:45 PM

DLF
Cmp 126

Observation

- we are looking at weekly chart

- stock is trading below crucial line

- a line which provided support since 2017 has been broken

- current consolidation phase around blue line similar to 2017 pattern

- Strong possibility of zone which acted as Support line may now start acting as Line of Resistance

On any rise one may consider to sell Dlf

Positional Target 113 / 108

Take care & safe trading...!!!

Trade active

⋅ May 13, 2020 4:04 AM

We have the rise we were looking for. DLF is at resistance line

Comments

NitinDhanrajani

⋅ May 5, 2020 9:25 PM

Nice input. Thank you very much

NitinDhanrajani

⋅ May 13, 2020 4:47 AM

@NitinDhanrajani, any option strategy as you are master in it.

indiamarketoutlook

⋅ May 13, 2020 5:05 AM

@NitinDhanrarjani,

Thanks for your kind words.
You may consider selling 160 Call option initially currently around 3.3 and then if DLF starts coming down then may shift to 150 Call

Rajendra_5

⋅ May 5, 2020 7:52 PM

Nice chart